[1] The club was founded on 21 May 1998 by entrepreneur Itair Machado, a former player for Atlético Mineiro and Cruzeiro, and at the time the sponsor of Social Futebol Clube, a club located in Coronel Fabriciano city (a neighbor city of Ipatinga), with the support of Gercy Mathias, who was the president of the amateur club Novo Cruzeiro Futebol Clube, located in Ipatinga's neighborhood of Novo Cruzeiro; Cosme Mattos, former sportsman; Doctor Rinaldo Campos Soares, president of Sistema Usiminas; Doctor Ronaldo Monteiro de Souza, president of Usisaúde, and Francisco Carlos Delfino (also known as "Chico Ferramenta"), then mayor of Ipatinga.

As a result, in 2000 Ipatinga Futebol Clube played against the state's elite teams throughout the First Module of the first Division, ending the competition in fourth place.

To reach the semifinals, the team beat Botafogo and Santos, respectively the champions of that year's (2006)Rio de Janeiro and São Paulo state championships.

[6] In its debut in the Campeonato Mineiro on April 27, just 5 days after its acquisition, Ipatinga Futebol Clube starts its campaign making an incredible 2x0 in the first half against the Tupi team.

For 14 years, the club played in the Municipal Stadium Epaminondas Mendes Brito (later named João Lamego Netto), usually known as Ipatingão or Lamegão, built in 1982, with a maximum capacity of 15,000 people.

[9] Nowadays the club awaits the construction of a football stadium in Betim, and will probably play in other cities, such as Sete Lagoas, in the first semester of 2013.